During a webinar sponsored by the U.S. Soybean Export Council, ConsiliAgra Managing Director Emily French said soybeans continue to be range bound. Before COVID-19, demand was hurt by U.S.-China trade war. The demand uncertainty is now linked to the lockdown of the global economy. Moving forward, French is optimistic China will fulfill its obligations from the phase one trade deal. “China is under a lot of political pressure because of COVID. With all that political pressure, I think you will see China do it.” French said soybeans will be a big component of those purchases, but China will also buy other commodities. Low-priced ethanol was given as one example.
